Ihrig, Jane; Kamin, Steven B.; Lindner, Deborah; … - Federal Reserve Board (Board of Governors of the … - 2007
This paper evaluates the hypothesis that globalization has increased the role of international factors and decreased … globalization and inflation hypothesis. Our results provide little support for that hypothesis. First, the estimated effect of … find no evidence that the trend decline in the sensitivity of inflation to the domestic output gap observed in many …